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Revance's stock falls 35% after FDA says it won't approve the company's frown-line injection

Revance's stock falls 35% after FDA says it won't approve the company's frown-line injection
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Shares of Revance Therapeutics Inc. tumbled 35.3% in premarket trading on Monday after the company said Friday that the Food and Drug Administration had declined to approve Revance's application for a frown-line treatment. The FDA issued a complete response letter that the company received Oct. 15, citing issues with Revance's manufacturing facilities. Revance said it plans to address those concerns. Revance's stock is down 19.9% for the year, while the broader S&P 500 is up 19.0%.